Mumbai, April 15 -- U.S. stocks rallied to the edge of an all-time high Tuesday, and oil prices eased as hopes climbed that the United States and Iran may try again on talks to end their war and avoid a worst-case scenario for the global economy.

The S&P 500 added 1.2% to its leap from the day before and the index at the heart of many 401(k) accounts is just 0.2% below its record set in January. The Dow Jones Industrial Average rose 317 points (0.7%) and the Nasdaq composite climbed 2%.

Stock markets worldwide rose as diplomats arranged new US-Iran talks via back channels, easing fears of prolonged war. If successful, attention shifts to corporate profits, which drove gains pre-war and are projected to grow over 12% for S&P 500 companie...